NZD/JPY turned down

NZD/JPY turned down

Information is not investment advice

NZD/USD has turned down on July 22 and retraced more than 38.2% of the June-July advance. A “bearish engulfing” pattern was formed on W1. This likely means that the overall downtrend has resumed. The pair has support at 71.75 (50% Fibo, 50-day MA). A decline below this level will open the way down to 71.40 (61.8% Fibo) and 70.90 (78.6% Fibo).  

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After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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